Amalgamated Bank Has $6.84 Million Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Amalgamated Bank lessened its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 23.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 31,384 shares of the insurance provider’s stock after selling 9,834 shares during the quarter. Amalgamated Bank’s holdings in Reinsurance Group of America were worth $6,838,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Armstrong Advisory Group Inc. purchased a new position in shares of Reinsurance Group of America during the 3rd quarter valued at $25,000. International Assets Investment Management LLC bought a new stake in Reinsurance Group of America in the 2nd quarter valued at $28,000. Family Firm Inc. acquired a new stake in Reinsurance Group of America in the 2nd quarter worth $29,000. New Covenant Trust Company N.A. bought a new position in Reinsurance Group of America during the first quarter valued at about $28,000. Finally, Wolff Wiese Magana LLC acquired a new position in shares of Reinsurance Group of America in the third quarter valued at $34,000. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $227.70 on Thursday. The stock’s 50-day simple moving average is $215.96 and its 200 day simple moving average is $209.94. Reinsurance Group of America, Incorporated has a 52-week low of $153.79 and a 52-week high of $227.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market cap of $15.00 billion, a P/E ratio of 20.91 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating the consensus estimate of $5.31 by $0.82. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the business earned $5.57 earnings per share. As a group, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.74 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 1.56%. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

Insider Transactions at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RGA shares. Jefferies Financial Group raised their price target on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Barclays dropped their target price on shares of Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Royal Bank of Canada boosted their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company upped their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average price target of $227.38.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.